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Investment with ex. div. quotation
Investment with ex. div. quotation will be debited to the investment account at its ex. div. value. The full impending dividend will also be debited to the Investment Account. When the dividend is subsequently received it is apportioned in the same way as a) above. A journal transfer is then made from the Capital column of the Investment Account to the debit of the Estates Capital Account in order to restore the book value of the investment to its probate (quarter—up) value.
Exanple Date of Death: 30th June, 20X5
Stock: 3% Kenya Stock
Interest paid: 31st January
31st July
Holding: Shs 6m quoted at 86—88 ex.div.
Investment Account
Nominal Income Capital Nominal Income Capital
20X5 Sh'000 Sh'000 Sh'000 Sh'000 Sh'000 Sh'000
June Estate July Estate
30 Capital 31 Cash
Account Book
(stock (interest
at pre-
death) 6,000 5,190 death 75
post-death 15
(interest July Estate Capital
due) 90 31 Account
15
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